Gemesis Diamonds Hikes Prices

June 10, 2005

Gemesis Diamonds Hikes Prices

The Gemesis Corp., Sarasota, FL, is raising the price of its laboratory grown diamonds by an average 10%, effective June 15. Chuck Meyer, vice president of worldwide sales, says the increase follows strong demand. "Our production of much sought after true canary yellow diamonds is simply not sufficient to fill outstanding orders," he said. "We see especially strong demand for the intense and vivid colors most prized by designers and most sought after by knowledgeable consumers. Even at the higher prices, we continue to offer the consumer an extraordinary diamond at less than a fourth the price of its mined equivalent."

Awareness of Gemesis lab-grown diamonds has grown among consumers who want fancy and vivid fancy colors but cannot afford prices of natural colored diamonds. Gemesis says celebrities such as Heidi Klum, Halle Berry and Jennifer Lopez, who have fancy diamonds, also help raise awareness of fancy diamonds.

In 1999, Gemesis founder Carter Clarke said he imported Russian presses and was manufacturing the synthetic diamonds on American soil. Since then, the company launched a marketing program with partnering U.S. retailers, and is challenging the Federal Trade Commission guidelines by using the terms "cultured diamonds" to describe their laboratory-grown diamonds. Use of "cultured diamond" was banned in Germany last year following a court decision which used CIBJO terminology to classify the stones. The German ruling was aimed at protecting consumers from buying a product they might think is natural.

by Robert Weldon, G.G.

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